Mining Weekly
2 weeks 1 day ago
BHP has told Australian investors privately that its $39-billion Anglo American bid is in line with its strategy and that it will be disciplined in its approach, two fund sources said.
The world's biggest listed mining group is weighing up its next move after its initial takeover proposal for its smaller competitor was rejected by Anglo last week.
Mining Weekly
2 weeks 1 day ago
Senior gold producer Endeavour Mining announces that first gold pour at the Sabodala-Massawa BIOX Expansion project, in Senegal, took place on April 18, marking the successful delivery of the BIOX Expansion project on schedule and on budget, with no lost-time injuries. Endeavour points out that the first gold pour at the Sabodala-Massawa BIOX Expansion was achieved only 24 months after construction started, transforming the Sabodala-Massawa Complex into a tier-one mine.
Mining Weekly
2 weeks 1 day ago
London-listed URA Holdings has started phased production at the Gravelotte emerald mine (GEM) in South Africa. Following the successful commissioning of the processing and sorting plants, phased production at GEM started, as scheduled, before the end of April.
Mining Weekly
2 weeks 1 day ago
BHP Group’s bid to spin off Anglo America’s South African assets as part of a takeover proposal shows how the economic policies of the ruling African National Congress (ANC) have undermined investor confidence in the country, the main opposition party said.
The offer by BHP envisages Anglo offloading majority stakes in Anglo American Platinum, the world’s largest miner of the metal by market value, and Kumba Iron Ore to shareholders. Anglo on Friday rejected the £31.1-billion proposal by BHP because it “significantly undervalues” the company.
Mining Weekly
2 weeks 1 day ago
BHP Group is considering making an improved offer for Anglo American after its $39-billion initial proposal was rejected by the London-listed miner, a source familiar with the matter told Reuters.
BHP is in discussions on a revised bid for Anglo American to be made in coming weeks, the source said. The deliberations are ongoing and the group has not yet made a decision on the size and structure of the new proposal, the source added.
Mining Weekly
2 weeks 4 days ago
The growth in demand for platinum applications in China is extremely high, making detailed access to the China market hugely advantageous. Providing this detailed access from July 8 to 11 will be the far-reaching Shanghai Platinum Week 2024, which is sandwiched between the London Platinum Week in May and the New York Platinum Week in September.
Mining Weekly
2 weeks 4 days ago
The last time BHP Group took a swing at another major miner, it was Rio Tinto back in 2007. That could have been a blockbuster $150-billion takeover, but with metals prices crashing as the financial crisis took hold and with China signaling its discontent, the plan crumbled.
Having confirmed its takeover approach for rival Anglo American on Thursday, executives at the world’s biggest digger will be hoping for a better outcome this time — even with one of the most complex deals the industry has seen in years.
Mining Weekly
2 weeks 4 days ago
JSE-listed Impala Platinum Holdings (Implats) has initiated a Section 189(3) consultation process at its South African operations, signalling thousands of potential job losses. Implats envisages a reduction of about 3 900 positions, constituting a 9% reduction in labour across the Impala Rustenburg, Impala Bafokeng and Marula operations. The corporate office aims for a 30% reduction in head office costs.
Mining Weekly
2 weeks 4 days ago
ining and trading house Glencore will invest in Nigeria's mining sector if the government ensures a stable business climate, the company's CEO said on Thursday during a visit to Nigeria's minister in charge of solid minerals.
The visit comes as Nigeria is seeking to woo foreign investors to its undeveloped mining sector.
Mining Weekly
2 weeks 4 days ago
South Africa-focused coal company MC Mining on Friday announced the resignation of Nhlanhla Nene as director and chairperson of the board.
Nene joined the company on April 11, 2022, initially serving as a nonexeuctive director and then as chairperson from April 28, 2022.
Mining Weekly
2 weeks 4 days ago
JSE-listed Anglo American Platinum (Amplats) has appointed Sayurie Naidoo as CFO and executive director, with effect from May 1. Naidoo, who has been serving as the acting CFO since Craig Miller assumed the role of CEO in October 2023, brings more than 15 years of experience with Anglo American to her new position.
Mining Weekly
2 weeks 4 days ago
Diversified miner Anglo American has firmly rebuffed a $38.8-billion proposal from mining heavyweight BHP, with chairperson Stuart Chambers dismissing the nonbinding offer as “highly unattractive”.
In a statement released on Friday, Chambers labelled the BHP proposal as opportunistic and lacking in appreciation for Anglo’s prospects.
Mining Weekly
2 weeks 4 days ago
As uranium developer Bannerman Resources progresses with its plans for an initial eight-million-tonne-a-year Etango project, in Namibia, it is casting its gaze towards a broader horizon. The company has started to delve into potential expansion options, aiming for a larger-scale operation in the future.
The ASX-listed junior recently completed a scoping study that looks at the long-term optionality afforded by the large-scale Etango resource. Executive chairperson Brandon Munro highlighted the study’s findings, emphasising a “clear pathway” towards achieving a production capacity of 6.7-million-pound-a-year.
Mining Weekly
2 weeks 4 days ago
When former boss Mark Cutifani left Anglo American in mid-April 2022, things had rarely looked better for the century-old miner. Metals prices soared as the world emerged from lockdowns, the company had recently posted its best-ever annual profit and the popular industry veteran was handing over to a trusted lieutenant. Anglo stock hit a record the same day.
Two years later, the company’s reputation is in tatters after a series of missteps sent its value plunging by half. And now industry heavyweight BHP Group is moving in.
Mining Weekly
2 weeks 5 days ago
Local mobile and semi-mobile crushing and screening equipment provider Pilot Crushtec has expanded its product lineup to the Southern African mining market with the addition of Swedish brand Jonsson’s crushers and
The range complements the company’s existing offering of Metso equipment, particularly filling the gap of large-scale premium crushing and screening requirements with tracked units in the region.
Mining Weekly
2 weeks 5 days ago
Legal & General Investment Management, one of the 20 largest shareholders in Anglo American said an approach by BHP Group is "highly opportunistic" and "unattractive".
"As with many other UK-listed companies, we believe the valuation of Anglo American to be depressed and regard the proposed exchange ratio as an unattractive proposition for long-term investors," Nick Stansbury, head of climate solutions at Legal & General Investment Management (LGIM), told Reuters in an email on Thursday.
Mining Weekly
2 weeks 5 days ago
South Africa’s 30 years of democracy has changed the character of this country’s mining industry profoundly, Minerals Council South Africa emphasised in a report that highlights the industry’s significant advance since the dawning of democracy in 1994. Importantly, South Africa’s highly regarded mine employees earn among the most competitive wages in the major job sectors, with tens of thousands of employees now direct partners in mining companies through employee share ownership programmes and profit-sharing schemes.
Mining Weekly
2 weeks 5 days ago
The Democratic Republic of Congo’s government notified Apple of concerns that the company’s supply chain may be tainted by conflict minerals sourced from the central African nation. A group of international lawyers engaged on behalf of the Congolese State sent a list of questions to the US tech giant on April 22 and demanded answers within three weeks, according to a statement published on the website of lawyer Robert Amsterdam on Thursday. The statement coincided with the release by the law firm of a report accusing neighbouring Rwanda of laundering tin, tungsten and tantalum — known as 3T minerals — and gold from Congo.
Mining Weekly
2 weeks 5 days ago
An admirable degree of creativity exists within the South African mining technology and equipment manufacturing sector, giving manufacturers the necessary flexibility to weather the significant challenges over the past few years, Mining Equipment Manufacturers of South Africa CEO Lehlohonolo Molloyi has said. He was speaking as part of a panel in a webinar hosted by Creamer Media and sponsored by ABB, AECI Mining, Astron Energy and Epiroc, on April 24.
Mining Weekly
2 weeks 5 days ago
Zimbabwe’s President Emmerson Mnangagwa has reappointed Winston Chitando as the Southern African nation’s Mines Minister, a post he held before last year’s elections. Prior to his reappointment, Chitando was the local government minister.
Mining Weekly covers real-time news on mining projects across a range of minerals including gold, platinum, diamonds, copper and ferrous metals.
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